L
LequteMan
Guest
The Naira depreciated heavily against the dollar since the beginning of the week. The currency, which was just a bit above 400/$ at the beginning of the week seems to be heading towards a close of 500/$.
Here are 3 main reasons for the fast depreciation.
1. Hoarding of Dollar. Reports say BDC operators who have dollars at the moment are hoarding them, and speculating negatively in a bid to see a devaluation by the central bank.
2. Ever present, over-demand.
3. Scarcity.
Here are 3 main reasons for the fast depreciation.
1. Hoarding of Dollar. Reports say BDC operators who have dollars at the moment are hoarding them, and speculating negatively in a bid to see a devaluation by the central bank.
2. Ever present, over-demand.
3. Scarcity.